Not actually having the total of capital…Bitboy Crypto Social Blade… so with anything that you’re finding out about please do study the platform do not simply presume due to the fact that i utilize it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual money they consider that option as well so you actually get utilized to the structure of the site and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re purchasing real business if you select to in this particular video we’re speaking about how to copy other individuals’s investments with your cash so certainly your capital is at risk and we need to bear that in mind do not simply do something because that individual has actually said they’ve made profit 14 months in a row purchase these options because you think is the best ones for you and that being said let’s dive directly in [Music] so the important things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one element that is probably.
popular for it’s the choice to see what other traders are doing extraordinary we do not normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our cash we can really state i wish to do exactly what that trader is doing or match that specific portfolio of options and basically whenever they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that indicates if for example 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the costs involved really important you comprehend what are the costs of this now with any platform there will be some expense to undoubtedly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the absolutely no fee sites then may not charge you for actually buying and selling funds or etfs specific commodities specific stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of charges associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to know before you really begin buying copy trading or copy portfolios and finally some finest guidance best practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s kick off with fees truly crucial to understand these now on there’s a couple of charges there isn’t fees to do with in fact buying and selling fine so commission fees are totally free nevertheless there are a number of other costs the first one is withdrawal costs so you can obviously put cash in now if you’re in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that later but when you want to withdraw your money so you sell your shares you offer your commodities whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course understanding that i’m going to make sure that i’m only withdrawing when i definitely need to now you may state all right that’s rather pricey and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal costs are simply one of those alternatives that they have a great deal of platforms undoubtedly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every 6 months you know depends entirely how you’re investing but that is a cost to keep in mind the 2nd charge that i have actually discussed is that conversion cost now with you’re handling us dollars just there’s not an alternative to buy in euros or uk which’s fine that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re using trading two and two free trade anyone at all this is basic they have actually i suppose stuck with whatever fee they charge for that conversion rate you type of need to accept you understand if you want to use their platform go from uk to us then that conversion fee exists what are they in fact giving you in regards to your uk pounds to us dollars and all platforms are the same you can’t bargain with them you can’t go to the bank and say give me us dollars rather you have to pay their fees now the great thing about however when you’ve converted your money you do not have to invest it right now that dollar worth can being in your portfolio as cash dollars for as long as you like so that suggests the initial day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional charges so that’s actually excellent using that part of their website won’t definitely limit you in any way however we need to know two other charges the first being what’s called spread charges alright and i’m going to show you what i indicate on now a spread fee as i’m going to show you Bitboy Crypto Social Blade.
You are provided lots of choices with this software application and you can configure it however you see fit. If you’re looking to begin trading the forex market however don’t understand which system to select, then this may be precisely what you require.